17 May 2017Insurance

AXA appoints CEO of new business unit in innovation move

AXA has appointed Joyce Phillips as CEO of a new business unit dedicated to customer innovation and new business models.

Phillips also joins the management committee of the AXA Group. She will report directly to Thomas Buberl, CEO of AXA. Recently, she was the CEO of Global Wealth at Australia and New Zealand Banking Group.

“I am very happy that Joyce Phillips is joining AXA," Buberl said. "She is an accomplished CEO with a proven execution track record in the financial industry and a passion for new technologies and innovation."

The company said that the new business unit will federate AXA’s initiatives aiming at expanding the value chain of insurance services by leveraging new technologies as well as the groups’ innovation ecosystem. It will operate on a global level with dedicated resources, including existing ventures such as AXA Partners, AXA Next, AXA Strategic Ventures, Kamet. It will also allow the development of new business propositions aligned with AXA’s 2020 strategy.

In the UK this will allow AXA to continue to coordinate and manage our digital and innovation initiatives but will provide a clear view and opportunity to leverage the wider global activity.

Buberl added: "The insurance sector is at a turning point with new trends and opportunities which AXA has started to capture thanks to its vibrant innovation ecosystem. I am convinced that the set-up of this new business unit under Joyce’s leadership will allow us to further leverage our existing capabilities and develop new business models and services in order to accelerate the pace of change for our customers."

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